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COMPANY REGISTRATION NUMBER: 8074941
Spa Conservatory Village Limited
Filleted Unaudited Financial Statements
31 May 2023
Spa Conservatory Village Limited
Financial Statements
Year ended 31 May 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Spa Conservatory Village Limited
Statement of Financial Position
31 May 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
6
332
840
Current assets
Debtors
7
261
377
Cash at bank and in hand
230
1,829
----
-------
491
2,206
Creditors: amounts falling due within one year
8
( 27,269)
( 27,581)
--------
--------
Net current liabilities
( 26,778)
( 25,375)
--------
--------
Total assets less current liabilities
( 26,446)
( 24,535)
--------
--------
Net liabilities
( 26,446)
( 24,535)
--------
--------
Spa Conservatory Village Limited
Statement of Financial Position (continued)
31 May 2023
2023
2022
Note
£
£
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 26,447)
( 24,536)
--------
--------
Shareholder deficit
( 26,446)
( 24,535)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 21 February 2024 , and are signed on behalf of the board by:
Mrs K.J. Clark
Director
Company registration number: 8074941
Spa Conservatory Village Limited
Notes to the Financial Statements
Year ended 31 May 2023
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Midway House, Staverton Technology Park, Herrick Way, Staverton, Cheltenham, Glos, GL51 6TQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The director will continue to support the company for a period not less than 12 months from the date these financial statements are approved.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Goodwill
-
20% straight line
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
20% straight line
Motor vehicle
-
15% straight line
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Intangible assets
Goodwill
£
Cost
At 1 June 2022 and 31 May 2023
500
----
Amortisation
At 1 June 2022 and 31 May 2023
500
----
Carrying amount
At 31 May 2023
----
At 31 May 2022
----
6. Tangible assets
Plant and machinery
Motor vehicle
Total
£
£
£
Cost
At 1 June 2022 and 31 May 2023
1,380
3,350
4,730
-------
-------
-------
Depreciation
At 1 June 2022
1,375
2,515
3,890
Charge for the year
5
503
508
-------
-------
-------
At 31 May 2023
1,380
3,018
4,398
-------
-------
-------
Carrying amount
At 31 May 2023
332
332
-------
-------
-------
At 31 May 2022
5
835
840
-------
-------
-------
7. Debtors
2023
2022
£
£
Other debtors
261
377
----
----
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loan
337
Trade creditors
6
727
Other creditors
27,263
26,517
--------
--------
27,269
27,581
--------
--------
Other creditors include a loan from the director of £26,586 (2022 - £25,840). The director has not charged interest on her loan to the company.